Singapore will set aside S$440 million ($332.6 million) to strengthen its deep tech startup ecosystem, with the funding bringing more global venture capital (VC) firms to the local community We hope that this will attract investors to invest.
A new “one-stop platform” including physical facilities will also be launched, bringing together local and global technology startups under one roof. The site, scheduled to launch next quarter, aims to foster collaboration between start-ups, businesses and innovation partners, according to a joint statement from EnterpriseSG and the Economic Development Board (EDB).
The government agency said the new facility will provide resources and programs to help startups establish a presence in Singapore and accelerate capacity building for business growth. It also provides market access and internationalization opportunities, including helping global startups integrate into local ecosystems.
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EnterpriseSG and EDB are part of the new 332.6 million Singapore dollar ($21.17 billion) Startup SG equity program announced in conjunction with Singapore’s S$28 billion ($21.17 billion) Research, Innovation and Enterprise (RIE) 2025 plan. He will manage an additional $1,000,000 fund.
Approximately S$3 billion ($2.27 billion) has been invested in over 330 startups to date under the Startup SG Equity scheme, including S$2.5 billion (18 more than $90 million).
To further encourage the development of early to early growth stage 3 deep tech startups, the scheme will increase the government’s co-investment cap from S$8 million to S$12 million ($9.07 million) per startup.
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Eligible startups can access funding for early stages of development, including technology validation and commercialization.
Singapore expects the additional funding will attract an “expansion of world-renowned venture capital firms” to invest in deep tech startups in Asian markets that show potential for expansion overseas.
EnterpriseSG and EDB said, “These venture capital firms bring deep technical expertise, commercial knowledge and global networks to help startups take innovative technologies from the lab to the end market.” He noted that the focus is on areas such as biotechnology, quantum computing and space. technology.
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“Innovation is key to securing Singapore’s future and we must take a multi-pronged approach to foster the development of new and innovative solutions. [a] Emily Liu, Assistant Managing Director of Innovation at EnterpriseSG, said: “We are redoubling our efforts to grow a strong core of deep tech startups, while also making our startup ecosystem more globally oriented and more accessible to some people. We need to elevate it to something that can attract people.” The best talent in the world. ”
Singapore is also looking to invest in its own talent, particularly in the field of artificial intelligence (AI).
In another announcement today, government agency AI Singapore has introduced an online learning platform aimed at equipping aspiring AI engineers with “industry-relevant” AI and software engineering skills.
And while AI is a $9 trillion market, companies have barely begun to tap into it.
The AIAP Foundation is built on the learning principles of the AI Apprenticeship Program (AIAP), which AI Singapore says begins with a “self-directed deep skills acquisition” phase that includes theory and practice. Proceed to AI project development, during which apprentices work on real-world AI projects throughout their lifecycle.
Here, you’ll learn about customer challenges, work with real data, and select, train, and deploy AI models. Apprentices will also receive guidance from an AI mentor, project manager, and machine learning operations (MLOps) team.
Kevin Chan, head of AIAP at AI Singapore, said the AIAP Foundation will help balance the demand and supply of AI skills with “flexible, self-paced” courses that allow individuals with programming skills to upskill in AI engineering. He said he aims to bridge the gap.
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The government agency said the curriculum is modeled on AI Singapore’s AIAP pedagogy and is aimed at individuals with basic proficiency in Python. This includes fundamentals such as exploratory data analysis, building machine learning pipelines, and applying technical skills to “personalized, real-world, synthetic data-driven” AI projects.
After completing the Foundation course, participants can apply to the nine-month AIAP program. The program includes deeper skills training and development work on real-world AI projects.
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According to AI Singapore, more than 350 participants have graduated from AIAP since its inception.
